Tax Calculator | Income Tax & Sales Tax Calculator

Income Tax

Sales Tax

Tax Brackets

Deductions

FAQ

Income Tax Calculator

Calculate federal and state income taxes, FICA, Medicare, and net income after deductions.

Annual Income ($)

Filing Status

State

Standard Deduction ($)

Additional Deductions ($)

Pre-tax Contributions ($)

Self-Employed (Additional SE Tax)

🏛️ Federal Tax

$12,345

Federal income tax owed

Taxable Income: $62,050

Effective Rate: 16.5%

Marginal Rate: 22%

🏢 State Tax

$3,103

State income tax owed

State Rate: 5.0%

State Income: $62,050

💼 FICA & Medicare

$5,738

Social Security & Medicare taxes

Social Security: $4,650

Medicare: $1,088

Additional Medicare: $0

💰 Net Income

$53,814

Take-home pay after taxes

Monthly Net: $4,485

Bi-weekly Net: $2,070

Take-home %: 71.8%

Tax Burden Breakdown

Tax Type	Amount	Rate	% of Income
Federal Income Tax	$12,345	19.9%	16.5%
State Income Tax	$3,103	5.0%	4.1%
Social Security	$4,650	6.2%	6.2%
Medicare	$1,088	1.45%	1.5%
Total Taxes	$21,186	28.2%	28.2%

Sales Tax Calculator

Calculate sales tax for purchases and determine the total cost including tax.

Purchase Price ($)

Sales Tax Rate (%)

Quantity

Common Sales Tax Rates by State

State	State Rate	Avg Local	Avg Combined
California	7.25%	3.31%	10.56%
Texas	6.25%	2.00%	8.25%
Florida	6.00%	1.00%	7.00%
New York	4.00%	4.52%	8.52%
Illinois	6.25%	2.49%	8.74%
Pennsylvania	6.00%	0.34%	6.34%
Oregon	0.00%	0.00%	0.00%
Montana	0.00%	0.00%	0.00%

2024 Federal Tax Brackets

Single Filers

Tax Rate	Income Range	Tax Owed
10%	$0 - $11,000	10% of income
12%	$11,001 - $44,725	$1,100 + 12% of excess over $11,000
22%	$44,726 - $95,375	$5,147 + 22% of excess over $44,725
24%	$95,376 - $182,050	$16,290 + 24% of excess over $95,375
32%	$182,051 - $231,250	$37,104 + 32% of excess over $182,050
35%	$231,251 - $578,125	$52,832 + 35% of excess over $231,250
37%	$578,126+	$174,238 + 37% of excess over $578,125

Married Filing Jointly

Tax Rate	Income Range	Tax Owed
10%	$0 - $22,000	10% of income
12%	$22,001 - $89,450	$2,200 + 12% of excess over $22,000
22%	$89,451 - $190,750	$10,294 + 22% of excess over $89,450
24%	$190,751 - $364,200	$32,580 + 24% of excess over $190,750
32%	$364,201 - $462,500	$74,208 + 32% of excess over $364,200
35%	$462,501 - $693,750	$105,664 + 35% of excess over $462,500
37%	$693,751+	$186,601 + 37% of excess over $693,750

Tax Bracket Facts:

Tax brackets are marginal - you only pay the higher rate on income above each threshold
Standard deduction for 2024: $12,950 (single), $25,900 (married filing jointly)
These rates apply to ordinary income, not capital gains or dividends
State taxes are separate and vary by state

Tax Deductions Guide

Standard Deductions (2024)

Filing Status	Standard Deduction	Additional (65+)
Single	$12,950	$1,750
Married Filing Jointly	$25,900	$1,400 per spouse
Married Filing Separately	$12,950	$1,400
Head of Household	$19,400	$1,750

Common Itemized Deductions:

State and Local Taxes (SALT): Up to $10,000 limit
Mortgage Interest: On loans up to $750,000
Charitable Contributions: Generally up to 60% of AGI
Medical Expenses: Exceeding 7.5% of AGI
Home Office: For self-employed individuals

Above-the-Line Deductions:

Traditional IRA Contributions: Up to $6,500 ($7,500 if 50+)
HSA Contributions: $3,650 individual / $7,300 family
Student Loan Interest: Up to $2,500
Educator Expenses: Up to $300
Self-Employment Tax: 50% of SE tax paid

Business Deductions (Self-Employed):

Business Expenses: Ordinary and necessary costs
Home Office: Simplified ($5/sq ft) or actual expense method
Vehicle Expenses: Standard mileage rate or actual costs
Equipment & Supplies: Computers, software, office supplies
Professional Development: Courses, certifications, conferences

Frequently Asked Questions

What's the difference between marginal and effective tax rate? Marginal is the rate on your last dollar earned; effective is your average rate across all income.
Should I itemize or take the standard deduction? Itemize only if your deductions exceed the standard deduction amount.
What is FICA tax? Federal Insurance Contributions Act - includes Social Security (6.2%) and Medicare (1.45%) taxes.
When do I owe additional Medicare tax? On income over $200,000 (single) or $250,000 (married filing jointly) - additional 0.9%.
What if I'm self-employed? You pay both employee and employer portions of FICA (15.3% total), but can deduct half.
Are sales taxes deductible? You can deduct state sales tax OR state income tax (not both) if you itemize.
How do tax withholdings work? Your employer withholds estimated taxes from each paycheck based on your W-4.
What happens if I underpay taxes? You may owe penalties and interest; use estimated payments if needed.

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